Casuística de acceso a la actualización de la prestación por desempleo: bases para un modelo de decisión

Since 1985, when Royal Decree 1044/85, dated 19 June 1985, provided for the receipt of unemployment benefit in a lump sum payment, this instrument has enabled the creation of several professional and business initiatives that have undoubtedly contributed to the generation of stable employment. There have been numerous stages in the development of this tool to date. In each of them different regulations have been applied and the requirements for entitlement to this option have also varied. To begin with, in order to qualify claimants either had to have started activity as self-employed workers (this requirement was later dropped) or have become a member of an associated labour cooperative or employee-owned company. In 2002, by virtue of Act 45/2002, the provision for the capitalisation of unemployment benefit was restored as a general measure for workers setting up in self-employment. As a result, they were entitled to use 20% of their outstanding benefit payments to subsidise the start of their business activity, and the remaining 80% to pay their monthly Social Security contributions. Further changes are being made in this area as a result of the National Budget for 2005. In view of the above, this study sets out to make a financial assessment of the alternatives open to an unemployed worker in capitalising unemployment benefit, either as a freelancer or as a member of an associated labour cooperative or employee-owned company. By applying financial theory and using techniques such as decision and evaluation trees through real options, the aim is to lay the foundations for a decision-making model that encompasses all the options for accessing the lump sum unemployment benefit payment.